Computer keeps rebooting after new CPU put in.

Lo guyz i am really stuck with this one i just bought and installed a Intel E6700 into my machine and when i start it up it gets into windows and then lasts about 1 - 2 minutes before rebooting, it continues in this cycle of starting up and getting windows XP desktop then reboots.
Should i put the old E6300 back in and update my BIOS and chip set drivers then try again? The bios has never been updated since i first bought the MB and i think it has the first version of the bios installed.
Heres my system spec...

Tedster makes a valid point. If you reinstall the original chip and update the bios, the bios version will be for that chip and not the new one. Leave the E6700 chip in the board and update the bios that way. Many board manufacturers include a utilities program on their mainboard disks for easy bios updates (Just updated my ASUS M2N32-SLI Deluxe bios last night) directly from the internet without having to flash the bios manually. Upon restart, you will have to get back into the bios and reset any changes you may have made originally since the bios update will reset everything to default settings.

Ill give that a try but i am pritty sure that the PC will just reboot before i have a chance to do anything, this is the main problem i cant do anything if the thing just reboots after being on desktop for no more than 1 to 2 minutes. Thank you for the advice anyway ill dig out the MB disk and see if i can update it that way.

Don't give up on it! Once you have it running with the old CPU, gGo to the mobo makers site and download the BIOS updates. Have a good look round of the site in case there is something about CPU upgrades.
Also just make sure you did not disturb any other main board components such as RAM when you were refitting the CPU and fan.